tax question?

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  1. #1
    Join Date
    Jan 2009
    Location
    ohio
    Posts
    1,686

    Default tax question?

    What is the "earned income tax credit" mean?

  2. #2
    Join Date
    Jun 2003
    Location
    Atlanta GA
    Posts
    3,608

    Default

    The Earned Income credit is a credit which is refundable (meaning it can reduce your tax to zero and then result in a refund). It's based on earned income sources. It's generally only for people with children but can be obtained in limited situations for those without children. It's phased out once you meet certain earned income thresholds, so it only applies to those who work and make little money, relatively speaking.
    Success is the ability to go from one failure to another with no loss of enthusiasm..W. Churchill

  3. #3
    Join Date
    Jan 2009
    Location
    ohio
    Posts
    1,686

    Default

    thank you

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